Casablanca, Morocco - Trade between Morocco and Libya rose to about 900 million Moroccan dirhams (US$ 140 million) in 2013, the Moroccan minister of Foreign Trade, Mohamed Abbou, announced Thursday .
'The volume of Libyan direct investment in Morocco has experienced a significant increase, particularly in the property sector,' the Moroccan Minister said in the opening session of the second Moroccan- Libyan economic forum in Casablanca.
However, he said that level of trade did not reflect the possibilities offered by the two countries, especially 'if we take into account fraternal relations they enjoy and opportunities for both economies.
'This situation requires us to find ways and means to significantly boost the economic cooperation within the framework of a new complementary partnership for the mutual benefit of both parties,' Mr. Abbou said.
He expressed the willingness of his country to strengthen cooperation with Libya to achieve the objectives of the regional complementarity in the Maghreb.
According to him, the targets are set as a strategic choice of the Kingdom of Morocco in its new constitution.
He also called for the establishment of new economic conditions to create common wealth intended to give concrete content to effective cooperation relations between the two countries.
In this regard, he proposed the establishment of joint ventures in common interest such as steel, chemical and food industries, expressing the availability of Morocco to make its expertise available to the Libyans in the field of creation and management of industrial free trade zones.